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^{Photo credit: Executive Office of the Governor}

Published by Washington Metropolitan Area Transit Authority | May 27, 2025

Today, Metro announced the selection of Hines, the global real estate investment manager, as the developer for the 13.9-acre North Bethesda joint development site adjacent to the rail station. The firm has been operating in the DC metro area for more than 40 years and owns and operates $90.1 billion¹ of assets across property types.

This selection brings Montgomery County one step closer to a transformative new life sciences-anchored development and resulting economic opportunities, with the North Bethesda Metro station serving as the gateway.

Today’s milestone is the result of a thorough evaluation process that started after team qualifications were submitted in October 2024 and was preceded by years of planning.

Last summer, Metro and Montgomery County officials signed a Memorandum of Understanding that affirmed infrastructure funding and economic development incentives for North Bethesda, including over $36.6 million for on-site infrastructure, a new north entrance to the Metro station, and a commitment from the University of Maryland to establish the Institute for Health Computing as an anchor for the development.

“Together, we are transforming North Bethesda into a hub for innovation, opportunity, and growth. Our administration is confident that this redevelopment project will ensure that the Red Line won’t just help commuters get from North Bethesda to where they want to go but it will help bring people from all over the capital region to this community,” said Maryland Governor Wes Moore. “Today, we celebrate the beautiful future for this community — one where Maryland families can get from where they live to where opportunity lies; where the State of Maryland is a national leader in science, technology, engineering, and math; and a future where our state is the model for creating new jobs, building more housing, and leaving no one behind.”

Metro is working tirelessly to create transit-oriented communities with more housing and economic opportunities near its stations to grow ridership. 

“I couldn’t be more excited about what this development is going to mean for the region and Metro,” said Metro General Manager and Chief Executive Officer Randy Clarke. “North Bethesda will be a model for life-sciences-anchored transit-oriented development around the world, creating new transit users and connecting people to economic opportunities. This development project wouldn’t be possible without the outstanding support of our local and federal partners, and we appreciate their partnership.” 

“This project has been a long time coming, and I’m glad to see it moving forward with the selection of Hines as the master developer,” said County Executive Marc Elrich. “This announcement reflects our strong partnership with Metro, Governor Moore’s administration, our Montgomery County State Delegation, and the University of Maryland. We are all working together to realize our vision of North Bethesda as an epicenter of the bio and life science community in our region. The Institute for Health Computing will anchor this development as an attractor of companies, entrepreneurs, and researchers and drive growth and add high-quality jobs in a sector that’s critical to the future of our County and State economy. North Bethesda has enormous potential, and we’re doing the work to make sure that potential is realized in a way that serves our residents and strengthens the region.”

Six development teams responded to Metro’s Request for Qualifications (RFQ). Hines was competitively selected based on their proven capacity to execute complex projects, including significant experience with and commitment to life sciences integrated with mixed-use development. The future development is envisioned to include delivery of a new Metro entrance on the north side of the station, a signature building along Rockville Pike, the future home of the University of Maryland’s Institute for Health Computing and incubator space, as well as a mix of life science, residential, and retail uses.

“Accessible public transportation plays a key role in connecting our communities and growing our state’s economy. That’s why we fought to secure $5 million in direct federal funding to support upgrades to the North Bethesda Station that will improve access and promote new economic opportunities,” said Maryland Senator Chris Van Hollen.” Working together with our state and local partners, we’re connecting people to this exciting new center for innovation in health care.”

“MDOT is a committed partner with Montgomery County and Metro working to advance critical development projects near transit stations because these new communities will help increase ridership and improve the state’s return on our transportation investments,” said Samantha Biddle, Deputy Secretary of the Maryland Department of Transportation. “The North Bethesda Metro Joint Development will further support our economy by better connecting Marylanders to jobs, housing, and other opportunities and is one of many sites that Maryland is working with Metro to develop.”

Staff will commence negotiations on the joint development agreement in anticipation of bringing recommendations to Metro’s Board of Directors later this year for approval to execute the agreement. The development plan and timeline will be refined and advanced as part of this process. 

“We are excited to participate in the conception of this vibrant mixed-use, transit-oriented campus that will create a platform for the next generation of innovation in the life science space, in addition to developing the new metro station entrance,” said Andrew McGeorge, Senior Managing Director at Hines. “We look forward to bringing our extensive placemaking experience to the North Bethesda community and working with Metro, Montgomery County, and the State of Maryland on this project.” 

Since issuing its 10-year Strategic Plan for Joint Development in April 2022, Metro and its joint development partners have delivered six developments throughout the region, totaling approximately 1,500 units (800 affordable) and 325,000 SF of office. By the end of 2025, an additional five developments will be under construction, totaling 1,300 residential units and 422,000 SF of office space. Leveraging Metro’s real estate holdings helps to foster regional partnerships to generate revenue, build ridership, connect people to more jobs, and create new tax revenues for local and state partners. 

To learn more about Metro’s joint development program, visit wmata.com/realestate. To learn more about Hines, visit Hines.com and follow @Hines on social media.

¹Includes both the global Hines organization and RIA AUM as of December 31, 2024